GDXJ Analysis

VanEck Vectors Junior Gold Miners ETF (GDXJ)

I have entered a short iron condor spread on GDXK, using options that trade for the last time 46 days hence, on July 19. The premium is a $0.21 credit and the stock at the time of entry was priced at $31.06.

The profit zone for this position is between $35.21 on the upside and $27.21 on the downside.

The implied volatility rank (IVR) stands at 60.7%.

Premium: $0.21 Expire OTM
GDXJ-iron condor Strike Odds Delta
Long 36.00 90.0% 12
Break-even 35.21 88.0% 14.5
Short 35.00 86.0% 17
Short 28.00 83.0% 15
Break-even 27.21 86.5% 12
Long 27.00 90.0% 9

The premium is 21.0% of the width of the position’s wings.

The risk/reward ratio is 3.8:1.

By Tim Bovee, Portland, Oregon, June 3, 2019


Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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